Singapore: Manufacturing and electronics PMIs edge higher in June
July 3, 2021
The Purchasing Managers’ Indices (PMIs)—produced by the Singapore Institute of Purchasing and Materials Management (SIPMM)—for both the manufacturing and electronics sectors rose slightly in June, thus moving further into expansionary territory as the two sectors continue to gradually recover from last year’s pandemic-induced downturn.
The manufacturing PMI inched higher to 50.8 in June from 50.7 in May, thus moving further above the 50-point threshold that separates expansion from contraction in the sector and marking the twelfth consecutive month of expansion in the manufacturing sector. The higher reading was attributed to faster growth in new orders, output and employment.
Likewise, the electronics PMI increased to 50.6 points in June from 50.4 in May, and thus clocked the eleventh consecutive month of expansion for the sector.
Author: Stephen Vogado, Economist